29 Jan 2015
USD/CHF rises above weekly 200 average
FXStreet (Mumbai) - The USD/CHF pair extended gains for the second consecutive session to trade above the 200 week average located at 0.9154 levels.
USD/CHF at post SNB highs
At the moment, the pair is trading at a 0.9160, its highest level since the Swiss National Bank announced an end to its four year old currency floor. Since then, the Franc has steadily weakened on rumors that the SNB policymakers are considering 1.1000 as a manageable level in EUR/CHF exchange rate. The Franc was also occasionally hit by rumors of SNB’s intervention, although officially no such move was confirmed.
However, the latest bout of weakness in the Swiss Franc is largely driven by the Fed policy statement, which did little to change the investor expectation regarding the timing of interest rate hike in the US.
USD/CHF Technical Levels
The pair may test 0.9363 (200-DMA) levels if it manages to rise above 0.9160 levels. On the flip side, rejection at 0.1960 shall may the pair down to 5-DMA located at 0.9 levels.
USD/CHF at post SNB highs
At the moment, the pair is trading at a 0.9160, its highest level since the Swiss National Bank announced an end to its four year old currency floor. Since then, the Franc has steadily weakened on rumors that the SNB policymakers are considering 1.1000 as a manageable level in EUR/CHF exchange rate. The Franc was also occasionally hit by rumors of SNB’s intervention, although officially no such move was confirmed.
However, the latest bout of weakness in the Swiss Franc is largely driven by the Fed policy statement, which did little to change the investor expectation regarding the timing of interest rate hike in the US.
USD/CHF Technical Levels
The pair may test 0.9363 (200-DMA) levels if it manages to rise above 0.9160 levels. On the flip side, rejection at 0.1960 shall may the pair down to 5-DMA located at 0.9 levels.